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Village Of Patterson

Description

Villages of Patterson
Executive Summary

Our Offer: Unique California investment opportunity

  • 5 sites with 83 acres of approved land, sold at tentative map.
  • Parcels located in a 692-acre master plan development (Villages of Patterson)

Proven Opportunity: Major developers invest and sales prices climb

  • Two major public developers are building and seeing significant returns with VOP
    (K. Hovnanian and KB Homes)
  • Absorption rates are greatly exceeding expectations
  •  Sales prices have increased $200,000 to $250,000 per home within 24 months

Growth City: Patterson is a centrally located California city with charm

  • Underpenetrated upcoming city in California
  • On Interstate 5, a critical link to Interstate 580, and the Bay Area;
  • Close to State Hwy 99, which links cities in the Central Valley including Sacramento

“Demand [for new homes] is strong as the
concept of ‘home’ has taken on renewed
importance for work, study and other
purposes in the COVID era.”
– NAHB Chairman Chuck Fowke

Villages of Patterson
Site Details

Site For Sale      Please call for pricing

City: Patterson, CA   County: Stanislaus  Acres: 83+/_
Zoning: High, Medium, or Low Density Residential with a
range of 502-729 lots.
Status: Plan Entitled, covered by a development agreement pending tentative and final maps. 

Patterson Details

  • VOP project approved and vested
  • 692 Acres Master Planned Development
  • 3,100 approved housing units in VOP
  • Two of the three planned schools are completed within VOP
  • $67M CFD formation for overall infrastructure
  • Patterson maintains a small town feel and family orientated values

Villages of Patterson
Development Overview

Villages of Patterson Overview

  •  692-acre Master Planned Community, annexed and entitled for development
    of 3,100 housing units.
  • New local industries include Amazon (1 million SF facility), Restoration
    Hardware (1.5 million SF site), CVS, Kohls, Grainger distribution centers, Traina
    Foods, and other major employers.

Investors continue to see development success in VOP

Investor

Homes  Build &solid   (Last 2 Years)

Building/Coming to Market

    KB Homes

187 homes

Additional 205 lots purchased

K. Hovnanian

99 homes

Building 245 homes              

Other
Investors

18 triplexes for the
rental market

50 acres are trading paper on other
sites; 2 apartment sites scheduled

Self Help Enterprise

>200 units of affordable housing

Single Family – 2nd stage development

Villages of Patterson
Market Opportunity: High demand for residential properties in Patterson

Patterson’s growth is in multiple sectors…

Residential Home Market Growth 

Commercial Market Growth


Median Sale Price


$533,5000 (+9%)


New Properties

6.5 million SF of property 2011-2018



Median Rental Price



$2,650 (+46% in 1.5 years)



New Jobs

~4,300 new jobs created from commercial
expansion 2011-2018


Home Appreciation
Rates


2021 (+25.45%) – higher than 93% in the nation


New Retail
Services

Walmart, CVS, Walgreens, restaurants, hotels and
banks built in last 10 years


Time on
Market


<14 days (often with multiple offers/waived contingencies)


Patterson
Projects


Home Absorption Rate


15-17 units per month

 

…driven by two key economic value drivers

1.  Increased Demand from the Bay Area and the East Bay
Bay Area high rents and remote work policies push   buyers to more affordable markets (typical buyer is from the East Bay)

    2. Growth in the Local Economy
     Economy has strengthened from an increase of distribution      centers from Amazon, CVS, Restoration Hardware, Kohl’s          (past 7 years)

Villages of Patterson
Patterson homes continue to consistently appreciate in value

        Village of Patterson  

VOP Sites Available

        Village of Patterson  

     Site 25

        Village of Patterson  

Site Plan Option A2

        Village of Patterson  

Concept Site Plan

Villages of Patterson
Major developers are already taking advantage of the opportunity

Model

1,450 SF

1,769 SF

1,934 SF

2,308 SF

Q4 2020

$387,000

$396,000

$408,000

$423,000

Q4 2022

$495,990

$521,990

$536,990

$569,990

Model

1,912 SF

2,189 SF

2,489 SF

Q4 2020

403,990

$432,990

$448,990

Q1 2022

$567,490

$593,490

$626,490

                 Village of Patterson  

Patterson is a quaint and beautiful city poised for growth

During the first weekend in June, downtown Patterson hosts the Apricot Fiesta.
Titled the “Apricot Capital of the World” back in 1971, this celebration features
a schedule of events and entertainment, pageants, food vendors,
an arts and craft fair, parade, kids zone, bake contest and fireworks.

     Village of Patterson  
Contact Info

Contact: Mr. David Polatnick
Company: Polatnick Properties, Inc.
Website: https://www.polatnickproperties.com/
Lic# 01133918
O: 415-442-5005
C: 415-305-4836
E: david@propertyx.com
Polatnick is part of the ownership of the VOP development

This information is confidential and is furnished to prospective purchasers of the property described herein solely to assist in their evaluation and consideration of the property purchase. It is not to be copied and/or used for any other purpose or made available to any other person without the prior written consent of Polatnick Properties, Inc. or the Seller.

Although the information contained in this Memorandum is believed to be accurate and reliable, neither the Seller nor its Advisor guarantees its accuracy or completeness. Because of the foregoing and because the property will be sold on an as-is basis, prospective purchasers should make their own independent assessments, investigations and projections regarding the property. Although additional material, which may include engineering, environmental or other reports may be provided to certain prospective purchases as appropriate, such parties should confer with their own engineering and environmental experts, counsel, accountants and other advisors.

The Seller reserves the right, for any or no reason to withdraw the property from the market. The Seller has no obligation, express or implied to accept any offer. Further, the Seller has no obligation to sell the property unless and until the Seller executes and delivers a signed contract of sale on terms acceptable to the Seller in its sole discretion which has been duly approved by Seller’s shareholder. By submitting an offer, the offeror will be deemed to have acknowledged the foregoing and agreed to release the Seller and its Agent from any liability with respect thereto.

Inquiries, tours and offers should be directed to Polatnick Properties, Inc. To facilitate analysis of offers, Offerors are encouraged to provide information relative to funding sources, experience in developing similar properties, familiarity with the market and any other information which is likely to reflect favorably on the Offerors’ ability to close the proposed transaction in a timely manner

City:
Country: United States
Open In Google Maps
Property Id : 21490
Year Built: 1990
attic
gas heat
ocean view
wine cellar
basketball court
gym
pound
fireplace
lake view
pool
back yard
front yard
fenced yard
sprinklers
washer and dryer
deck
balcony
laundry
concierge
doorman
private space
storage
recreation
roof deck

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